Data Vantage | Asa Ren, Olsera, SEPPURE and Spiralytics snap up capital

3 min readFeb 23, 2023

Edition #251, 23 Feb 2023


Dear Reader,

Jakarta-based DNA data company Asa Rén issued shares worth nearly $4 million this week to Marcy Venture Partners, a venture capital firm co-founded by rapper Jay-Z; Northstar Ventures; and Magzhan Kenesbai.

The company recently announced securing $8.15 million in a pre-Series A round co-led by Silicon Valley-based Top Harvest Capital, Kejora Capital and Marcy Venture Partners.

Founded by Aloysius Liang in 2016, Asa Rén provides direct-to-consumer DNA tests to identify predisposed health risks and ancestry, among others. It also offers licences for its data models for use by policymakers, researchers, and companies focused on precision medicine, pharmaceuticals and insurance.

Liang recently told DealStreetAsia that his company is on track to become profitable in the next 24 months. The company had reported a net loss of $20k in the financial year ended Dec 31, 2021.

Olsera, an Indonesia-based point of sale (POS) solutions provider catering to SMEs, received $2.5 million in seed funding this week from Kejora-SBI Orbit, a joint vehicle of venture capital firm Kejora Capital and Japan-based financial services company SBI Holdings.

Announcing the seed round last month, the company had said it plans to use the capital to strengthen its technological infrastructure, recruit talent and accelerate its merchant acquisition in another 200 cities in Indonesia.

Founded in 2015 by Ali Tjin and Novendy Chen, Olsera offers ERP services that enable users to oversee several departments from anywhere at any time, including accounting, inventory management, and customer care, among others.

Other updates from DATA VANTAGE

Singapore-based nanofiltration solutions provider SEPPURE received $2 million this week from SEEDS Capital and another investor, bringing the capital raised in an ongoing round to $11.2 million. The company had last announced a $2.55 million seed round in 2019.

Spiralytics, an online advertiser based in the Philippines, received $130,000 this week from investors, including Wavemaker Partners.

Fintech startup SJ Mobile Labs, the company behind the Habitto mobile bancassurance platform, received $95,700 this week from angel investor network Epic Angels. The investment is part of a recently announced 500 million yen ($3.9 million) round backed by Cherubic Ventures and Saison Capital.

Indonesia-based fintech company KoinWorks reduced its net losses by 43% in the financial year ended Dec 31, 2021, as its income grew 2.7x.

Singapore-based spend management software firm Spenmo registered a 7.7x jump in its net loss for the financial year ended Dec 31, 2021, despite posting a 10x revenue growth.

Energy technology startup Ampotech reported a 2.8x growth in revenue for the financial year ended July 31, 2022, while its net losses went up by 9.6%.

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